How Much Money You Need to Live Comfortably in the 50 Biggest Cities

Unless you’re tracking expenses carefully, it can be hard to tell whether your city’s cost of living or your own spending habits are the cause of your financial troubles. Using the 50-30-20 budgeting rule, for example ― in which 50 percent of income covers necessities, 30 percent is for discretionary items and 20 percent is saved ― you can quickly determine whether your income is sufficient to cover expenses for living in your city. If it isn’t, you might have to cut costs or maybe even move.

GOBankingRates conducted a cost-of-living comparison of the 75 most populous U.S. cities, surveying dollar amounts of living expenses including rent, groceries, utilities, transportation and healthcare. This total, which accounts for necessities, was then doubled to find how much money a single person needs to earn in that city to follow a 50-30-20 budget. This study also compares the total amount of income needed to the actual median household income in each city to see if differences in cost of living are matched by differences in pay.

Click through to see how much money you’d need to earn to live comfortably in the biggest cities across the U.S. The cities are listed in order of population from smallest to largest.

Arlington, Texas: $46,904

Arlington has a local median income of $53,055, which is $6,151 more than the income needed to live comfortably in this city.

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New Orleans: $60,782

Income needed: $60,782

50 percent for necessities: $30,391

30 percent for discretionary spending: $18,235

20 percent for savings: $12,156

The median household income in New Orleans is just $36,964, which is not much compared to the city’s high cost of living. That income falls $23,818 short of the income needed to live well in The Big Easy.

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Wichita, Kan.: $40,616

Income needed: $40,616

50 percent for necessities: $20,308

30 percent for discretionary spending: $12,185

20 percent for savings: $8,123

The median income for a Wichita household is $45,907, which is enough to live well and have an extra $5,291 annually.

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Cleveland: $42,589

Income needed: $42,589

50 percent for necessities: $21,295

30 percent for discretionary spending: $12,777

20 percent for savings: $8,518

Cleveland offers low living costs but also has one of the lowest median household incomes among big cities at $26,179, which falls $16,410 short of the amount needed to live well in Cleveland.

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Minneapolis: $64,170

Income needed: $64,170

50 percent for necessities: $32,085

30 percent for discretionary spending: $19,251

20 percent for savings: $12,834

Minneapolis residents’ median household income of $50,767 is decent but is still $13,403 less than the total annual income needed to live comfortably in this half of the Twin Cities.

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Miami: $77,057

Income needed: $77,057

50 percent for necessities: $38,529

30 percent for discretionary spending: $23,117

20 percent for savings: $15,411

The Miami median income of $30,858 is less than half, or $46,199 short, of the amount needed to live well in this city ― the biggest gap between actual and ideal incomes of any major city in this study.

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Raleigh, NC: $55,537

Income needed: $55,537

50 percent for necessities: $27,769

30 percent for discretionary spending: $16,661

20 percent for savings: $11,107

Based on Raleigh’s median income of $54,581, locals actually earn incomes on par with what is needed to live comfortably. They are short just $80 each month ($956 a year).

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Colorado Springs, Colo.: $44,512

Income needed: $44,512

50 percent for necessities: $22,256

30 percent for discretionary spending: $13,354

20 percent for savings: $8,902

Colorado Springs’ median household income is $54,228, which allows locals to more than live comfortably with an extra $9,716 a year.

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Omaha, Neb.: $45,560

Income needed: $45,560

50 percent for necessities: $22,780

30 percent for discretionary spending: $13,668

20 percent for savings: $9,112

Most residents of Omaha can live comfortably on the median household income of $48,751, which is $3,191 more than the income needed to cover needs, wants and savings.

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Virginia Beach, Va.: $50,929

Income needed: $50,929

50 percent for necessities: $25,465

30 percent for discretionary spending: $15,279

20 percent for savings: $10,186

Low costs of living make it easy to live on Virginia Beach’s median income of $67,001. This amount is $16,072 more than what is needed to live comfortably ― the equivalent of an extra $1,340 a month ― which is the biggest surplus of any major U.S. city in this study.

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Atlanta: $60,285

Income needed: $60,285

50 percent for necessities: $30,143

30 percent for discretionary spending: $18,086

20 percent for savings: $12,057

With a median household income of $46,439 in Atlanta, workers in this city have $13,846 less than they need each year to live well.

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Mesa, Ariz.: $42,654

Income needed: $42,654

50 percent for necessities: $21,327

30 percent for discretionary spending: $12,796

20 percent for savings: $8,531

Mesa residents earning the local median income of $48,259 have an extra $5,605 a year.

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Kansas City, Mo.: $45,311

Income needed: $45,311

50 percent for necessities: $22,656

30 percent for discretionary spending: $13,593

20 percent for savings: $9,062

The income needed to live well in Kansas City is on par with the city’s median income of $45,376, with about $65 extra in locals’ wallets.

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Long Beach, Calif.: $58,560

Income needed: $58,560

50 percent for necessities: $29,280

30 percent for discretionary spending: $17,568

20 percent for savings: $11,712

Long Beach residents need to earn $5,616 more a year than the $52,944 median income to live comfortably in the city.

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Sacramento, Calif.: $53,736

Income needed: $53,736

50 percent for necessities: $26,868

30 percent for discretionary spending: $16,121

20 percent for savings: $10,747

The median income in Sacramento, $50,013, is just $3,723 short of the amount needed to afford living comfortably in the city.

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Fresno, Calif.: $42,496

Income needed: $42,496

50 percent for necessities: $21,248

30 percent for discretionary spending: $12,749

20 percent for savings: $8,499

Fresno’s $41,455 median income is just $1,041 short of the income needed to live well in this city.

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Tucson, Ariz.: $39,966

Income needed: $39,966

50 percent for necessities: $19,983

30 percent for discretionary spending: $11,990

20 percent for savings: $7,993

With the lowest total needed to cover necessities out of the 50 biggest U.S. cities, Tucson residents can likely make do on the $37,149 median income, which is just $2,817 short of the amount needed to live well there.

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Albuquerque, NM: $43,895

Income needed: $43,895

50 percent for necessities: $21,947

30 percent for discretionary spending: $13,168

20 percent for savings: $8,779

The median income in Albuquerque is $47,413, which gives residents almost $300 extra a month ($3,518 a year) beyond the amount needed to comfortably follow a 50-30-20 budget.

Denver: $62,842

Denver’s median household income of $51,800 is $11,042 behind the amount needed to live comfortably, which means many Denver residents could struggle financially without sticking to a tight budget.

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Seattle: $72,092

Income needed: $72,092

50 percent for necessities: $36,046

30 percent for discretionary spending: $21,628

20 percent for savings: $14,418

Residents of Seattle earn a median household income of $67,365, which is $4,727 less less than the income needed to cover necessities, savings and additional expenses.

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El Paso, Texas: $40,227

Income needed: $40,227

50 percent for necessities: $20,113

30 percent for discretionary spending: $12,068

20 percent for savings: $8,045

Low costs of living make it easier for El Paso residents to make ends meet with the $42,037 median income, which is $1,810 more than the income needed to follow a 50-30-20 budget in the city.

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Detroit: $42,772

Income needed: $42,772

50 percent for necessities: $21,386

30 percent for discretionary spending: $12,832

20 percent for savings: $8,554

Detroit has the lowest median income of the 50 cities on this list at $26,095, which results in a gap of $16,677 between actual income and the amount needed to live well in this city.

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Charlotte, NC: $53,842

Income needed: $53,842

50 percent for necessities: $26,921

30 percent for discretionary spending: $16,152

20 percent for savings: $10,768

Most Charlotte locals can live well on the median household income of $53,274, which is only $568 short of the amount needed to be financially comfortable in this city.

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Fort Worth, Texas: $51,759

Income needed: $51,759

50 percent for necessities: $25,879

30 percent for discretionary spending:$15,528

20 percent for savings: $10,352

Fort Worth is another city where the median income ― $52,492 ― is close to the ideal income needed to live well in the city ― just $733 a year short.

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Columbus, Ohio: $45,466

Income needed: $45,466

50 percent for necessities: $22,733

30 percent for discretionary spending: $13,640

20 percent for savings: $9,093

Columbus residents earning the local median income of $44,774 are only $692 short of the annual amount needed to comfortably cover needs, wants and savings.

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Indianapolis: $46,016

Income needed: $46,016

50 percent for necessities: $23,008

30 percent for discretionary spending: $13,805

20 percent for savings: $9,203

The median income in Indianapolis ― $42,076 ― is $3,940 less than the salary needed to comfortably afford living in the city.

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San Francisco: $119,570

Income needed: $119,570

50 percent for necessities: $59,785

30 percent for discretionary spending: $35,871

20 percent for savings: $23,914

San Francisco residents face one of the of the biggest gaps between their actual incomes and ideal incomes needed to live in the city, with the $78,378 median income falling $41,192 short of the income needed to follow the 50-30-20 budget.

Jacksonville, Fla.: $49,842

Falling $3,074 short of the amount needed to live comfortably, the Jacksonville median income of $46,768 means locals’ budgets can get a little tight.

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Austin, Texas: $53,225

Income needed: $53,225

50 percent for necessities: $26,612

30 percent for discretionary spending: $15,967

20 percent for savings: $10,645

Most residents of Austin can live comfortably on the city’s median income, which at $55,216 is $1,991 above the salary needed to follow the 50-30-20 rule.

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San Jose, Calif.: $89,734

Income needed: $89,734

50 percent for necessities: $44,867

30 percent for discretionary spending: $26,920

20 percent for savings: $17,947

With a high cost of living, San Jose’s median income of $83,787 is $5,947 less than the amount needed to live comfortably.

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Dallas: $55,651

Income needed: $55,651

50 percent for necessities: $27,826

30 percent for discretionary spending: $16,695

20 percent for savings: $11,130

The median income in Dallas ― $43,359 ― is a substantial $12,292 less than the ideal income needed to live comfortably there.

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San Diego: $69,307

Income needed: $69,307

50 percent for necessities: $34,654

30 percent for discretionary spending: $20,792

20 percent for savings: $13,861

San Diego residents earn a median of $65,753, which is $3,554 less than what they need to earn to comfortably manage their finances with a 50-30-20 budget.

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San Antonio: $46,238

Income needed: $46,238

50 percent for necessities: $23,119

30 percent for discretionary spending: $13,872

20 percent for savings: $9,248

With a median household income of $46,317 in San Antonio, residents make $79 extra a year above the ideal salary to live well in this city. Such a small difference indicates that San Antonio’s earning opportunities are well-matched to the city’s cost of living.

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Phoenix: $48,876

Income needed: $48,876

50 percent for necessities: $24,438

30 percent for discretionary spending: $14,663

20 percent for savings: $9,775

Phoenix has a local median income of $46,881, which is just $1,995 less than the income needed to live comfortably in the city.

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Philadelphia: $59,384

Income needed: $59,384

50 percent for necessities: $29,692

30 percent for discretionary spending: $17,815

20 percent for savings: $11,877

The typical Philadelphia household earns an income of $37,460, which falls $21,924 short of the ideal income required to match the city’s high cost of living.

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Houston: $60,795

Income needed: $60,795

50 percent for necessities: $30,397

30 percent for discretionary spending: $18,238

20 percent for savings: $12,159

The median household income in Houston is just $45,728, which is not enough to match the high cost of living in the city, resulting in a gap of $15,067 between the median income and the ideal income to live comfortably.

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Chicago: $68,671

Income needed: $68,671

50 percent for necessities: $34,335

30 percent for discretionary spending: $20,601

20 percent for savings: $13,734

Chicago’s median household income of $47,831 covers necessities but puts residents’ earnings $20,840 behind the income needed to comfortably cover needs, wants and savings in the Windy City.

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Los Angeles: $74,371

Income needed: $74,371

50 percent for necessities: $37,185

30 percent for discretionary spending: $22,311

20 percent for savings: $14,874

Los Angeles residents face high costs of living, which means living comfortably requires a higher income ― $24,689 higher than the city’s median income of $49,682.

New York: $87,446

Income needed: $87,446

50 percent for necessities: $43,723

30 percent for discretionary spending: $26,234

20 percent for savings: $17,489

The country’s most populous city also has some of the highest living costs, which means much of the $52,737 median household income covers necessities only. Based on a 50-30-20 budget, the median income in New York is $34,709 less than the amount needed to sufficiently cover needs, wants and savings.

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What It Costs to Live in the 50 Most Populous U.S. Cities

Here are the 50 most populous cities surveyed by GOBankingRates. The chart compares the income needed to live comfortably in each city to each city’s actual median household income. The cities are listed in order according to the difference between the income needed and the median income, from the biggest surplus ― where it’s easiest to live comfortably ― to the biggest deficit, which is where living comfortably according to a 50-30-20 budget is most difficult.

City

Population

Income Needed to Live Comfortably

Median Household Income

Difference Between Needed and Actual

Virginia Beach, Va.

450,980

$50,929

$67,001

$16,072 surplus

Bakersfield, Calif.

368,759

$43,426

$56,842

$13,416 surplus

Colorado Springs, Colo.

445,830

$44,512

$54,228

$9,716 surplus

Arlington, Texas

383,204

$46,904

$53,055

$6,151 surplus

Mesa, Ariz.

464,704

$42,654

$48,259

$5,605 surplus

Wichita, Kan.

388,413

$40,616

$45,907

$5,291 surplus

Albuquerque, N.M.

557,169

$43,895

$47,413

$3,518 surplus

Omaha, Neb.

446,599

$45,560

$48,751

$3,191 surplus

Oklahoma City, Okla.

620,602

$44,180

$47,004

$2,824 surplus

Austin, Texas

912,791

$53,225

$55,216

$1,991 surplus

El Paso, Texas

679,036

$40,227

$42,037

$1,810 surplus

Fort Worth, Texas

812,238

$51,759

$52,492

$733 surplus

Las Vegas

613,599

$50,453

$50,903

$450 surplus

San Antonio

1,436,697

$46,238

$46,317

$79 surplus

Kansas City, Mo.

470,800

$45,311

$45,376

$65 surplus

Charlotte, N.C.

809,958

$53,842

$53,274

$568 deficit

Columbus, Ohio

835,957

$45,466

$44,774

$692 deficit

Raleigh, N.C.

439,896

$55,537

$54,581

$956 deficit

Fresno, Calif.

515,986

$42,496

$41,455

$1,041 deficit

Phoenix

1,537,058

$48,876

$46,881

$1,995 deficit

Louisville, Ky.

612,780

$46,831

$44,806

$2,025 deficit

Tucson, Ariz.

527,972

$39,966

$37,149

$2,817 deficit

Jacksonville, Fla.

853,382

$49,842

$46,768

$3,074 deficit

San Diego

1,381,069

$69,307

$65,753

$3,554 deficit

Sacramento, Calif.

485,199

$53,736

$50,013

$3,723 deficit

Indianapolis

848,788

$46,016

$42,076

$3,940 deficit

Seattle

668,342

$72,092

$67,365

$4,727 deficit

Long Beach, Calif.

473,577

$58,560

$52,944

$5,616 deficit

San Jose, Calif.

1,015,785

$89,734

$83,787

$5,947 deficit

Portland, Ore.

619,360

$60,195

$53,230

$6,965 deficit

Memphis, Tenn.

656,861

$44,180

$37,099

$7,081 deficit

Milwaukee

599,642

$43,281

$35,489

$7,792 deficit

Denver

663,862

$62,842

$51,800

$11,042 deficit

Baltimore

622,793

$53,897

$41,819

$12,078 deficit

Dallas

1,281,047

$55,651

$43,359

$12,292 deficit

Minneapolis

407,207

$64,170

$50,767

$13,403 deficit

Atlanta

456,002

$60,285

$46,439

$13,846 deficit

Washington, DC

658,893

$83,104

$69,235

$13,869 deficit

Nashville, Tenn.

644,014

$61,015

$46,758

$14,257 deficit

Houston

2,239,558

$60,795

$45,728

$15,067 deficit

Cleveland

389,521

$42,589

$26,179

$16,410 deficit

Detroit

680,250

$42,772

$26,095

$16,677 deficit

Chicago

2,722,389

$68,671

$47,831

$20,840 deficit

Philadelphia

1,560,297

$59,384

$37,460

$21,924 deficit

New Orleans

384,320

$60,782

$36,964

$23,818 deficit

Los Angeles

3,928,864

$74,371

$49,682

$24,689 deficit

Boston

655,884

$84,422

$54,485

$29,937 deficit

New York

8,491,079

$87,446

$52,737

$34,709 deficit

San Francisco

852,469

$119,570

$78,378

$41,192 deficit

Miami

430,332

$77,057

$30,858

$46,199 deficit

Methodology: GOBankingRates surveyed monthly living expenses in the 50 most populous U.S. cities according to U.S. Census Bureau estimates. This cost-of-living comparison included the following factors for a single person: (1) housing, using the median rent for a one-bedroom apartment in each city, sourced from Zillow’s January 2016 rental index; (2) groceries, using the recommended amount reported by cost-of-living database Numbeo.com for each city, sourced March 9, 2016; (3) utilities for a 915-square-foot apartment in each city, according to cost estimates from Numbeo.com, sourced March 9, 2016; (4) transportation costs according to the Economic Policy Institute’s Family Budget Calculator for each city or its nearest metropolitan area; and (5) health insurance premiums as estimated at the state level for 2013 by the Kaiser Family Foundation.

Monthly costs were totaled and multiplied by 12 to get the annual dollar cost of necessities in each city. This dollar amount for necessities was then doubled to find the actual annual income needed to live comfortably in the city, assuming a person is following the 50-30-20 budgeting guideline, which requires an income double the cost of necessities. This study also compared the amount of income needed in each city to each city’s actual median pre-tax household income according to 2014 U.S. Census Bureau data. The amount of money specified for savings is equal to 20 percent of the total income needed, and the amount specified for discretionary spending is equal to 30 percent of the total income needed.

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